Use the black point (plus symbol) to indicate the equilibrium price and quantity of laptops. Then use the green point (triangle symbol) to fill the area representing consumer surplus, and use the purple point (diamond symbol) to fill the area representing producer surplus. (?) Demand 300 270 Equilibrium 240 210 180 Consumer Surplus 150 120 Producer Surplus 90 60 30 Supply O 15 30 45 60 75 90 105 120 135 150 QUANTITY (Millions of laptops) Total surplus in this market is S million. PRICE (Dollars per laptop)

Use the black point (plus symbol) to indicate the equilibrium price and quantity of laptops. Then use the green point (triangle symbol) to fill the area representing consumer surplus, and use the purple point (diamond symbol) to fill the area representing producer surplus. (?) Demand 300 270 Equilibrium 240 210 180 Consumer Surplus 150 120 Producer Surplus 90 60 30 Supply O 15 30 45 60 75 90 105 120 135 150 QUANTITY (Millions of laptops) Total surplus in this market is S million. PRICE (Dollars per laptop)

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter3: Supply And Demand: Theory

Section: Chapter Questions

Problem 15QP

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Similar questions

The following diagram shows supply and demand in the market for tablets. Use the black point (plus symbol) to indicate the equilibrium price and quantity of tablets. Then use the green point (triangle symbol) to fill the area representing consumer surplus, and use the purple point (diamond symbol) to fill the area representing producer surplus.
The following diagram shows supply and demand in the market for smartphones. Use the black point (plus symbol) to indicate the equilibrium price and quantity of smartphones. Then use the green point (triangle symbol) to fill the area representing consumer surplus, and use the purple point (diamond symbol) to fill the area representing producer surplus. (?) Demand 300 270 Equilibrium 240 210 180 Consumer Surplus 150 120 Producer Surplus 90 60 30 Supply 30 60 90 120 150 180 210 240 270 300 QUANTITY (Millions of phones) Total surplus in this market is $ million. PRICE (Dollars per phone)
The following graph plots the supply and demand curves in the market for polaroid cameras. Use the black point (plus symbol) to indicate the equilibrium price and quantity of polaroid cameras. Then use the green point (triangle symbol) to fill the area representing consumer surplus, and use the purple point (diamond symbol) to fill the area representing producer surplus. (?) PRICE (Dollars per camera) 400 360 320 280 240 200 160 120 80 40 0 0 Demand Supply 75 150 225 300 375 450 525 600 675 QUANTITY (Millions of cameras) Total surplus in this market is $ 750 million. * Equilibrium A Consumer Surplus Producer Surplus
The following graph plots the weekly market supply curve (orange line) for banana bread in a hypothetical small economy. Use the purple point (diamond symbol) to shade the area representing producer surplus (PS) when the price (P) of banana bread is $2.25 per slice. Then, use the green point (triangle symbol) to shade the area representing additional producer surplus when the price rises to $3.00 per slice. (?) PRICE (Dollars per slice) 9.00 8.25 7.50 6.75 + 6.00 5.25 4.50 3.75 3.00 2.25 1.50 0.75 H 0 + 0 P=$3.00 P=$2.25 Small Economy's Weekly Supply Supply 24 48 72 98 120 144 168 192 216 240 284 288 QUANTITY (Thousands of slices of banana bread) > Initial PS (P=$2.25) A Additional PS (P=$3.00)
The following diagram shows supply and demand in the market for tablets. Use the black point (plus symbol) to indicate the equilibrium price and quantity of tablets. Then use the green point (triangle symbol) to fill the area representing consumer surplus, and use the purple point (diamond symbol) to fill the area representing producer surplus. PRICE (Dollars per tablet) 150 135 120 105 90 45 30 15 0 0 Demand Supply + 35 70 105 140 175 210 245 280 QUANTITY (Millions of tablets) Total surplus in this market is $ 315 350 million. Equilibrium Consumer Surplus Producer Surplus
The following diagram shows supply and demand in the market for laptops. Use the black point (plus symbol) to indicate the equilibrium price and quantity of laptops. Then use the green point (triangle symbol) to fill the area representing consumer surplus, and use the purple point (diamond symbol) to fill the area representing producer surplus. Demand 300 270 Equilibrium 240 210 180 Consumer Surplus 150 120 Producer Surplus 90 60 Supply 30 60 90 120 150 180 210 240 270 300 QUANTITY (Millions of laptops) Total surplus in this market is $ million. PRICE (Dollars per laptop) 30
The following diagram shows supply and demand in the market for smartphones. Use the black point (plus symbol) to indicate the equilibrium price and quantity of smartphones. Then use the green point (triangle symbol) to fill the area representing consumer surplus, and use the purple point (diamond symbol) to fill the area representing producer surplus. PRICE (Dollars per phone) 300 270 240 210 180 150 60 30 0 0 Demand Supply 20 80 100 120 140 160 180 200 40 60 QUANTITY (Millions of phones) Total surplus in this market is $ million. Equilibrium Consumer Surplus Producer Surplus ?
The following graph plots the supply and demand curves in the market for motor scooters. Use the black point (plus symbol) to indicate the equilibrium price and quantity of motor scooters. Then use the green point (triangle symbol) to fill the area representing consumer surplus, and use the purple point (diamond symbol) to fill the area representing producer surplus. (?) PRICE (Dollars per scooter) 300 270 240 210 180 150 120 60 30 0 0 Demand Supply 95 190 285 380 475 570 665 780 855 QUANTITY (Millions of scooters) Total surplus in this market is $ 950 million. Equilibrium A Consumer Surplus Producer Surplus
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The following graph plots the weekly market supply curve (orange line) for quiche in a hypothetical small economy. Use the purple point (diamond symbol) to shade the area representing producer surplus (PS) when the price (P) of quiche is $2.25 per slice. Then, use the green point (triangle symbol) to shade the area representing additional producer surplus when the price rises to $3.00 per slice. ? PRICE (Dollars per slice) 9.00 8.25 7.50 6.75 6.00 5.25 4.50 3.75 3.00 2.25 1.50 0.75 0 0 P=$3.00 P=$2.25 Supply Small Economy's Weekly Supply 24 48 72 96 120 144 168 192 216 240 264 288 QUANTITY (Thousands of slices of quiche) Initial PS (P=$2.25) A Additional PS (P=$3.00)
Total economic surplus The following graph plots the supply and demand curves in the market for polaroid cameras. Total surplus in this market is _ million? *instructions on how to help* Use the Blackpoint (plus symbol) to indicate the equilibrium price and quantity of Polaroid cameras. then use the green point (triangle symbol) to fill the area, representing consumer surplus and use the purple point ( Diamond symbol) to fill the area of representing producer surplus. Answer then, what is the total surplus in this market.
The following graph plots the supply and demand curves in the market for VR headsets. Use the black point (plus symbol) to indicate the equilibrium price and quantity of VR headsets. Then use the green point (triangle symbol) to fill the area representing consumer surplus, and use the purple point (diamond symbol) to fill the area representing producer surplus. PRICE (Dollars per headset) 350 315 280 245 210 175 140 105 70 35 0 0 Demand Supply 40 80 120 160 200 240 280 320 360 QUANTITY (Millions of headsets) Total surplus in this market is $ 400 million. + Equilibrium A Consumer Surplus Producer Surplus ?